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Project Description:
You manage a beach guest house in Ft. Lauderdale containing three types of rental units. Prices are based on peak and off-peak times of the year. You need to calculate the maximum daily revenue for each rental type, assuming all units are rented. In addition, you need to calculate the discount rate for off-peak rental times

Start Excel. Download and open the file named Exp19_Excel_Ch01_ML1_Rentals.xlsx. Grader has automatically added your last name to the beginning of the filename.

You want to format the main title to have a consistent appearance to other documents and spreadsheets.

Apply the Heading 1 cell style to the range A1:G1.

Hint: Cell Styles is on the Home tab.
You want to apply a similar, complementary style to the date, which is below the main title.

Apply the 20% - Accent1 cell style to the range A2:G2.
The Peak Rentals heading is centered over the related data in columns C and D. You want the Off-Peak Rentals heading to be centered over its related data.

Merge and center Off-Peak Rentals in the range E4:G4.

Hint: Merge and Center is on the Home tab.
To help other people know that the Off-Peak Rentals heading is related to three columns of data, you want to apply a fill color to that heading. You will choose a different color to distinguish these data columns from the fill color used for the Peak Rentals heading.

Apply Blue fill color (the eighth color below Standard Colors) and White, Background 1 font color to cell E4.



Hint: Fill Color and Font Color are on the Home tab.
Three headings (Maximum Revenue, Maximum Revenue, and Discount Rate) do not fully display on the fifth row. Instead of widening the columns, you want to wrap the headings within their respective cells. This will enable you to maintain the column width appropriate for the data below the headings.

Center and wrap the headings on row 5.


Hint: Use the Home tab.
You are ready to calculate the Peak Rentals Maximum Revenue that can be earned. The maximum revenue is the total revenue if all rental units are rented.

In cell D6, enter a formula that calculates the Peak Rentals Maximum Revenue.

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Hint: Formula is: No. of Units*Daily Rate

The Discount Rate is the percentage off of the Peak Rentals Per Day Rate used to calculate the Off-Peak Rentals Per Day rate. The Studio Apartment rents for $120 Off-Peak, which is 80% of the $149.95 Peak rate. Therefore, the Discount Rate for the Off-Peak Per Day rate is 20%.

In cell G6, enter a formula that calculates the Discount Rate for the Off-Peak rental price per day.

Hint: Formula is: 1-(Off-Peak Rentals Daily Rate/Peak Rentals Daily Rate)
You created formulas for the Peak Rentals Maximum Revenue and the Discount Rate for the Off-Peak Rentals for the Studio Apartment rental type. Now you want to copy the formulas to the remaining rental types so that you don't have to create formulas again.

Copy the formula in cell D6 to cells D7:D8. Copy the formula in cell G6 to cells G7:G8.

Hint: Use the fill handle.
The values in the columns are hard to read with varying number of decimal points. The Accounting Number Format will align the decimal points and display dollar signs to improve the appearance of the monetary values.

Format the range C6:F8 with Accounting Number Format.


Hint: Accounting Number Format is on the Home tab.
The Discount Rate formula results are displayed as decimal points. However, formatting the values as percentages will align decimal points and clearly indicate the percentages.

Format the range G6:G8 in Percent Style with one decimal place.

Hint: Look in the Number group on the Home tab.